PTC Wins Bankruptcy Auction for Fabry Gene Therapy ST-920 in $211M Deal
PTCT sits 68% above its 52-week low of $43.32.
Summary
PTC Therapeutics won a competitive bankruptcy auction to acquire ST-920, a BLA-stage AAV gene therapy for Fabry disease, from Sangamo Therapeutics. The deal includes $111 million upfront and up to $100 million in regulatory milestones. ST-920 has shown durable clinical benefit in the Phase 1/2 STAAR study, with a rolling BLA submission expected to complete in Q4 2026 and potential launch in 2027. The rolling BLA submission to the FDA for accelerated approval of ST-920 is to be completed in 4Q. This acquisition leverages PTC's existing rare disease commercial infrastructure and adds a late-stage asset with near-term revenue potential. The company will host a conference call today at 5 p.m. ET to discuss the transaction.
At the time of this announcement, PTCT was trading at $72.64 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $43.32 to $90.87. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.